Potash (POT) reported a blow-out quarter today, beating estimates by a mile. Earnings tripled over last year and they also raised guidance. The stock has pulled back from a recent high of around $215 to $195 simply because it had run up over 100% since Jan 22nd of this year. The company upped their guidance and it doesn't look like demand is waning. I believe this weakness is a good reason to buy some Potash, although I wouldn't be surprised if the stock pulls down to the $175 mark, where you should consider buying more.

Similarly, Mosaic (MOS) has seen tremendous growth in their business and the stock, which was at $60 in November of last year, is down from a recent high of around $140 and trading today in the low $120's. This 11% decline is a grea opportunity to open a position and buy if it dips down to the $110-$115 mark.

Both these companies are in the agriculture/fertilizer business and with biodiesel becoming increasingly popular, they are not only a play on farming, agriculture and food, but also on energy. Both stocks trade at around 12 times future earnings and look like they have some ways to run. But if you are nervous about them and would rather buy an ETF instead, MOO is the one that has exposure to both Potash and Mosaic.

-- Faisal Laljee
Full Disclosure: I own POT but my cost basis is significant;y lower. I am looking to buy MOS but have not put in my order yet. My opinions and positions on these stocks can change anytime without notice.

Related Stories:

• Top 10 Stocks for Global Economic Expansion
• Top 10 International Stocks to Buy Now
• Fancy Exchange Traded Funds for all Appetites